Mumbai, April 30 (PTI) on Wednesday extended 42 money to 84.54 against the US dollar as optimism around the US-India trade deal and foreign fund inflow promoted investor sentiments.
In addition, weakness in greenback against major crosses abroad and lower level of global crude prices supported the domestic unit, the foreign exchange dealers said.
In the interbank Forex, the domestic unit opened at 85.15 and went between the Intra-Day high of 84.47 and a low of 85.15 against Greenback. The unit finished the session at 84.54, registering a profit of 42 money at its previous closing level.
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On Tuesday, the rupee received 27 money to settle at 84.96 against the US dollar.
“Rupee strongly did a positive business … Strong FII and DII Fund Inflow and Us-India Trade Deal Deal Development supported by optimism. Despite the remaining firm, the dollar index, the rupee emphasizes expectations that India could emerge as an important option for China in American trade flows, increasing confidence in Indian markets, VP Research Analyst, LKP, Lany.
Meanwhile, US President Donald Trump said that a bilateral trade deal is “coming with the Great” on a bilateral trade deal, and he feels that Washington will “be a deal” with New Delhi.
Trump on Tuesday commented while talking to reporters before leaving the White House for a rally in Michigan, marking the first 100 days of his second administration.
“India is coming great. I think we will make a deal with India,” said the President.
He said, “Prime Minister (Narendra Modi), as you know, were here three weeks ago, and they want to make a deal. We will see what happens,” he said.
Prime Minister Modi visited the White House in late February.
The dollar index, which detects the strength of greenback against a basket of six currencies, was trading more than 0.20 percent at 99.44.
Global Oil Benchmark Brent crude fell 0.81 percent in futures trade to USD 63.73 per barrel.
In the domestic equity market, the 30-cheer BSE Sensex declined by 46.14 points or 0.06 percent, closed at 80,242.24, while the Nifty fell 1.75 points or 0.01 percent to 24,334.20.
According to exchange data, foreign institutional investors (FII) on Wednesday bought equity worth Rs 50.57 crore on a pure basis.
Meanwhile, the Cabinet Committee (CCS) headed by the Prime Minister, is understood that the overall security situation in Jammu and Kashmir was discussed on Wednesday, which is amidst speculation about India’s possible vengeance in view of India’s cross border linkage.
The CCS meeting was held at the Prime Minister’s Lok Kalyan Marg Niwas, a day later when he held a meeting with the top military brass and gave operational freedom to the armed forces on the “mode, target and time” of India’s response to the April 22 attack, killing 26 people.
Defense Minister Rajnath Singh, Home Minister Amit Shah and Foreign Affairs Minister Jaishankar participated in it, people familiar with this matter said. PTI drr hair hair
This report is auto-generated with PTI News Service. ThePrint does not have any responsibility for its content.